People made a version of that argument with mortgages and mortgage backed securities. Mortgages are spread across too many people, too many geographic areas, etc., and there's no way they'll all decline or default at once.
This is where Credit Default Swaps came in. What is the cryptocurrency equivalent of a Credit Default Swap?
And, you probably wouldn't use a swap for hedging bitcoin currency exchange risk, unless you were doing an actual useful transaction where the sources and uses were in different currencies. People with bitcoins are either speculating or taking duration risk approximately equal to the delivery delay of a Priority Mail envelope full of heroin, as I understand it.
Crypto is nowhere near that, for one, very little of crypto's value comes from loaned money.
At any rate, the value of cryptocurrency market isn't a reflection of the amount of money that has been poured into it. The market cap is a product of the last price paid on any given exchange times the circulating supply of currency. So a $500B market cap might be the result of less than $50B worth of cash infusion, so long as the last person who bought in paid $13K for a Bitcoin.
The point api is making is that they were sure they were right.